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Title

Underwriting Manager, Residential Lending 

EOE StatementWe are an equal employment opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, gender, national origin, disability status, protected veteran status or any other characteristic protected by law.
 
Full-Time/Part-Time Full-Time  
Preferred Experience/Skills  
About the Organization We are a full service financial institution owned and operated by nearly 50,000 members of the Stanford Community, including Stanford University, Stanford Hospital & Clinics, Lucile Packard Children's Hospital and SLAC National Accelerator Laboratory. Our assets are over $2 billion, and the quality of our expansive line of financial products and services is unmatched in the industry.

At Stanford Federal Credit Union (SFCU), benefits are an integral part of our total compensation package. Each person's situation is unique. Therefore, choice, wherever possible, is a key component of our benefits. Each benefit helps meet an important need. Because we know it is the contribution of every member of the team, we want to recognize and reward each of you. That's why we provide competitive salaries and a comprehensive benefit program.

Please contact our Human Resources Team for further information about our benefits programs.
 
Category Lending  
Description

Job Description

Responsible for direct daily oversight and active management of residential lending team Underwriters, Closers and Funders in order to achieve the highest levels of member service. First and Second-level Underwriting review, verification and thorough analysis of mortgage credit package in order to ensure accuracy and compliance with federal and state regulatory requirements and investor/portfolio underwriting standards. Primary duty of processing incoming department investor/portfolio rate lock requests on a daily basis. Management and coordination of daily underwriting and funding work assignments to include processing of loan withdrawal requests. Responsible for co-management of HMDA to include NOIA/10-day letters, review of data integrity and preparation of quarterly/annual reports. Strong ability to effectively manage a large volume of work with a very high degree of accuracy is essential for this position. Responsible for processing of employee loans and external lender subordination requests. Provide performance coaching and ongoing training in order to ensure consistent optimal performance and successful achievement of department production goals. Management of team performance reviews, timecards and time off requests. Maintain quality control systems in order to ensure integrity of the loan process with effective management and ongoing monitoring of internal and external audit findings, agency regulatory requirements, and vendor partners. Advanced underwriting skills with ability to satisfactorily perform an effective risk analysis of all loan submissions to minimize losses to Stanford Federal Credit Union is required for this position.

Major Duties and Responsibilities

  • Assume responsibility for quality of underwriting, closing and funding work performed. Provide direct oversight and active management of residential lending Underwriters, Closers and Funders to include performance coaching, daily operations, adherence to compliance/agency regulatory requirements, streamlining of workflows and optimal team performance. Balance and assign daily workload and ensure turn times are at optimal levels. Provide additional department support as needed to include but not limited to 1st and 2nd underwriting of loan requests, secondary marketing tasks such as rate locks and extension requests, and incoming subordination requests.
  • Provide daily loan scenario interpretations, performance coaching and general guidance to department team members on a daily basis. Ongoing team training and education to ensure performance consistency and clear identification of roles, responsibilities and work process flows. Review and make recommendations for process improvements pertaining to streamlining of workflows and achieving optimal team performance.
  • Management of reports to include daily assignment of work, HMDA, Incomplete and TBD applications. Partner with residential lending VP and Director to conduct pipeline meetings and monthly department meetings to provide agency/vendor/industry updates and facilitate the training and coaching of team members as needed.
  • Active participation with department projects and/or additional duties and assignments as needed.
  • Must comply with applicable laws and regulations, including but not limited to, the Bank Secrecy Act, the Patriot Act and the Office of Foreign Assets Control.


 
Position Requirements

Experience

  • Minimum of 5-8 years of residential lending work experience
  • Minimum of 3-5 years of related management work experience
  • Advanced working knowledge of industry TRID/HMDA/TILA/RESPA/FNMA rules, regulations and requirements
  • Previous credit union work experience is preferred, but not necessary
  • Working knowledge and comprehension of financial mathematical skills and ability to perform needed calculations pertaining to income and asset analysis, collateral review and loan qualification
  • Thorough understanding and comprehension of related department documents/reports to include credit, appraisal, DU findings, flood, SSA, and other documents as applicable

Education

Bachelor’s degree (BA or BS) is desirable, combined with 5-8 years of related work experience

 
Location Corporate  

This position is currently not accepting applications.

To search for an open position, please go to http://StanfordFederalCreditUnion.appone.com



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